...EXECUTIVE SUMMARY A few concepts that I chose from chapter 10 to focus on are executive succession: insiders versus outsiders, problems in retrenchment, managing diverse cultures following an acquisition, and total quality management (TQM). Strategy implementation is an important step that requires staffing and directing and puts strategy into action. According to McCarthy 'strategy implementation may be said to consist of securing resources, organizing these resources, and directing the use of these resources within and outside the organization.' The concept executive succession, is an integral part to a company. Whether to hire an outside or inside manager is better for replacement within a company depends on the circumstances of the company. If a company is doing well, then hiring someone from the inside would improve performance. If a company is on thin ice, hiring an outsider can save the company. Studies have shown that hiring someone from the inside results in better performance than hiring someone from the outside. I've learned that steps for top-management succession is exceptionally critical to a company and can stabilize its performance from sinking below average. A great CEO needs the experience, skills and expertise. Before my research and analysis, I believed that right CEO is one who's been working for the company for long time because of the amount of knowledge captivated during his/her years. However, that's not always the right choice because of circumstance...
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...Otovic, and Joshua Adamson MKT/421 – Marketing March 28, 2013 R. Scott Bluemel Marketing Plan: Phase I Overview of the Organization The entertainment industry is a vastly changing business, although the ideology has stayed the same throughout history. Since the earliest documented cases started appearing, stories and music were used to overcome and surpass dark times in cultures throughout the world. In more recent historical examples, during the great depression, the largest break through for the entertainment industry began to show by way of movies, musicals, radio and early television. Movies really began to dawn as a way to escape the realities of everyday life and live vicariously in a world of wonder and enchantment, or love and drama, for those who had more serious worries in the real world. With the progression of technology, movies have become a literal escape, with millions of followers across the globe. The movie industry has made such dramatic leaps in technology that the demand for movies and theaters has grown largely over the past 20 years. At Regal Cinemas, being one of the largest franchises across the globe, business has been remarkable. “Regal Entertainment Group (NYSE: RGC) operates the largest and most geographically diverse theatre circuit in the United States, consisting of 6,862 screens in 538 theatres in 38 states and the District of Columbia as of February 21, 2013, with over 211 million attendees for the fiscal year ended December 29, 2011...
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...Valuation analysis of Regal Entertainment [pic] Objective To value a company listed on major stock exchange. Summary We selected Regal Entertainment, the largest motion picture exhibitor in the US and based on our fundamental analysis including industry analysis, company analysis and financial analysis, the company is a ‘HOLD’ with a positive outlook. Approach & Methodology Industry Research: We identified the main competitor and key drivers and trends in the industry. Company Research: We gathered information of the company historical performance and market positioning vis. as vis. its peers. Company projections: We developed a full three statements financial model to forecast the company’s operation based on the industry analysis and company’s track record. Valuation: We have used APV approach to value the company as company’s capital structure keeps changing over time. Furthermore, we also calculated the implied valuation using trading and transaction multiples. Industry Overview Resilient industry The US movie exhibition industry is considered a relatively defensive industry with low revenue volatility. Main reason for this is that the American customers’ willingness to go to the movies is less correlated with the economic cycle. People go to the movies both in the good times and in the bad times. Thus, box office performance can vary widely quarter to quarter due to films released, but is generally steady in longer term (see figure 1). The box office...
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...the play area 02/12-08/05/12 McDonald’s Miami, FL Cashier • Being Friendly and efficient in offering a pleasant experience to customers • Having interpersonal communication skills • Organizational and analytical ability • Resolve customer complaints • Cash handling • Food Prep 10/23/11-01/21/12(seasonal) Best buy Miami, FL Customer Specialist • Customer Service • Proper phone etiquette • Cash handling • Resolve customer complaints • Greeted and directed visitors and provided general information • Stock 06/10/11-08/05/12 Regal Entertainment Group Miami, FL Floor Staff • Customer Service • Proper phone etiquette • Clean theater’s, restrooms, swept, mopped floors, and informed supervisors of all safety hazards •...
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...Supply- Chain Management at Regal Marine Like most manufacturers, Regal Marine finds that it must spend a huge portion of its revenue on purchases. Regal has also found that the better its suppliers understand its end users, the better are both the supplier’s product and Regal’s final product. As one of the 10 largest U.S. power boat manufacturers, Regal is trying to differentiate its products from the vast number of boats supplied by 300 other companies. Thus, the Orlando firm works closely with suppliers to ensure innovation, quality, and timely delivery. Regal has done a number of things to drive down costs while driving up quality, responsiveness, and innovation. First, working on partnering relationships with suppliers ranging from providers of windshields to providers of instrument panel controls. Regal has brought timely innovation at reasonable cost to its product. Key vendors are so tightly linked with the company that they meet with designers to discuss material changes to be incorporated into new product designs. Second, the company has joined about 15 other boat manufacturers in a purchasing group, known as American Boat Builders Association, to work with suppliers on reducing the costs of large purchases. Third, Regal is working with a number of local vendors to supply hardware and fasteners directly to the assembly line on a just-in-time basis. In some of these cases, Regal has worked out an arrangement with the vendor so that title does not transfer until parts...
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...movies in Hollywood format save or dilute the imax brand -should Hollywood movies be released simultaneously in regular and large format? -The idea for imax originated in 1967 when filmmakers Graeme Ferguson Robert Kerr and Roman Kroiter wanted to create a large movie system due to the success of multi-screen theatre systems -started at Montreal Expo -publicly listed in NASDAQ -295 theaters in 40 countries, 60% of theaters in NA, almost 50% of theaters located in museums, aquariums, zoos and other institutions, and about 50% had 3d technology -main source of revenue were long term theater system lease and maintenance agreements, film production and distribution and theater operations -relatively small compared to Disney/Pixar and regal entertainment -competitive advantage- IMAX is branded so it has a competitive advantage over Hollywood ->Gelfond -$5 million for imax film, $10 million for 3d imax film -cheap actors (17/h), low influence on production -30-50% of total cost of production/distribution in marketing -no national advertising/marketing -imax films in theaters for years after release (4-5 years) -coat-tailed on Hollywood marketing campaigns -imax films were often produced by the firm or partially or fully financed by other parties -imax or any investors/sponsors shared the ownership rights for the film while imax usually controlled distribution rights, distributors received a portion of box office revenues -growth strategy-expand beyond institutional...
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...1a) K Company is in violation of Article 82 of the European Community Treaty. This is because K Company controlled 65% of the market share while at the same time, they tried to forbid other manufacturers from taking advantage of their position in the marketplace and refused to share patents and copyrights that it owns for the operating system software that controls its computers. As such, this shows that K Company is indirectly imposing unfair trading conditions. Since K Company is from America, a foreign firm, and have the intention to monopolize trade within EU, they are in breach of the EC treaty. 1b) K Company can be charged with violating the American Antitrust law. This is because Section 2 of Sherman Antitrust Act forbids monopolies and attempts to monopolize commerce or trade either between the states of the United States or in international commerce affecting the United States. To prove a violation, plaintiffs (all other computer manufacturers) have to show that the defendant (K Company) intended to monopolize the marketplace by mentioning that K company refuses to share the patents and copyrights and disallow them to produce computers that are compatible to theirs. Thus, as a matter of international comity and fairness, the court should assume extraterritorial jurisdiction over the matter. 2) Hispaniola will be held liable for the stolen commodities. Because the liability for the commodities has been passed on to Hispaniola...
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...and the reasons to go to the cinema just don’t add up to thecost of a ticket for many anymore. (Vanairsdale, 2010)IV. Strategy FormulationA. Strategic Alternatives and Evaluations When looking towards improving or developing strategies, all three of these companieshave to consider alternatives that will help them to do three major things. First, all three of thesecompanies have substantial levels of long-term debt. Decreasing the amount of money they owein the long-term is key. Second, these companies need to work towards getting more out of theirassets. These companies are dealing with very expensive assets that in many cases areunderperforming due to a drop in demand for their overall operations. Third, they need to makegoing to the movies exciting again. If increased foot traffic in these theaters isn’t generated, thenthe companies won’t be able to grow. (Regal, 2012), (AMC, 2012), (Cinemark, 2012) From a business level prospective none of these companies have been able to leveragethemselves with a cost-leadership strategy. All of these theaters have an average ticket price ofaround $6-$8, when looking at pricing in all of their geographic regions. The theaters couldchoose to utilize a flexible pricing model that...
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...estimates? List as many factors as you can. | | 6.55 | Q1, Q8Costs of workplace health and safety Britain’s Health and Safety Executive (HSE) is a national regulatory body overseeing workplace health and safety. In its 2007 performance report, HSE reported the following statistics: * 241 workers were killed at work. * 141,350 employees suffered serious injuries at work. * 2.2 million people were suffering from an illness they believed was caused or made worse by their current or past work. 646,000 of these were new cases in the last 12 months. * 36 million days were lost overall (1.5 days per worker), 30 million due to work-related ill health and 6 million due to workplace injury. * £20 billion (approximately 2% of GDP) is the estimated annual cost to society of work-related accidents and ill health.To promote improved health and safety, HSE provides strategic direction, investigates and enforces regulations, and works with employers and other groups to promote better workplace...
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...REGAL PHARMACEUTICALS Regal pharmaceuticals is a reputed company and it is known for its proactive HR policies and practices. It is following a environmental friendly manufacturing activities to show they are contributing towards corporate social responsibility. The vision and mission of the company states the same. It is also doing some innovative HR practices in the company. But in spite of all these, pollution control board sent a show cause notice to the company because one of the manufacturing units are accused on account of pollution which affecting the nearby environment. This notice was quickly communicated to the public through electronic media. This resulted in losing the image of the company, of being socially responsible. Several campaigns which clarify the concern for the employment by the company are conducted by its PR managers. But even the employees were confused with the information from outside which made them doubt about the company’s vision and mission and the credibility of the top management. HR head organized personal meetings of the CMD and top executives with the employees in corporate offices as well as manufacturing locations. They created employee awareness groups, which were empowered to inspect the pollution control mechanism which is being implemented by them. The members of the EAG were counseled to tour the neighboring villages to create awareness about the responsible actions taken by the company. On the basis of the case I think...
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...to envision, from a broader perspective, the operation of an organization and the market one serves. You must learn to think, act, speak, and process from the “management mind.” This capstone course draws from all functional areas of an enterprise to provide strategic direction to an organization. It also provides engineers with a management perspective as a complement to the engineering orientation, which they currently possess. Strategies are offered to ensure not only success in a competitive “for profit” environment, but the sustainability of success throughout the economic cycle. A framework is developed to understand the interrelation of accounting, finance, operations, engineering, and marketing. Class format will be lecture, case study analysis, open discussion, guest speakers, and student presentation. Student Notice: As a...
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...horses they were restored. Firstly, early examples of how the horse is used in Japanese art are found in the funerary aesthetics of burial complexes for imperial figures, thereby demonstrating the regal and almost transcendent symbolism assigned to the horse. From this perspective, the horse was not merely a type of logistic device in the specific Japanese world view, but rather was evoked to emphasize the power and grandeur of the Japanese nobility. Despite the horse’s presence in Japanese life, it was nevertheless closely related to the exclusivity of the nobility, as evidenced by these decisions to adorn burial tombs in this manner. From another perspective, this can be understood as the presence of the nobility itself in relation to Japanese life, namely, the sense in which the nobility is the foundation of Japanese culture. Ebersole, in his study of early Japanese poetry, notes that “distance is created between the emperor and almost everyone else by declaring the sovereign’s divinity, majesty, and so on; on the other, this distance like a magnet, draws others – to the person of the emperor.” (Embersole 48) The emperor is simultaneously distanced and close to others like the symbolism of the horse, in terms of it being given a royal status in art at times. Within the particular case of Japan, however, the horse, as the Bowers Museum notes, bears a close affinity with the developing military culture of the samurai, such that the horse “became an indispensable component of Japanese...
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...Advance Bank Australia Ltd v. FAI Insurances Ltd P3.20 * Defensive actions during hostile takeover – although the directors acted honestly and in good faith they exceeded their power and used their power for an improper purpose. * Company funds being used by directors to conduct re-election campaigns Aberdeen Ry v. Blaikie P3.23 * Contract between the company and a partnership, of which one of the directors was a partner, was held to be void at the instance of the company, notwithstanding that its terms were perfectly fair. Brunninghausen v. Glavanics P 3.17 * Nature of the transaction may give rise to a fiduciary duty owed by the directors to the shareholders. Coleman v. Meyers P3.17 * Failure to disclose information within the knowledge of one director may amount to ‘special circumstances’ which can give rise to a duty of a fiduciary nature to individual shareholders and not just the company as a whole. Cooke v. Deeks P3.25 * Director cannot take up a corporate opportunity without fully disclosure Darvall v. North Sydney Brick and Tile Co. Ltd P3.17 * There is a greater obligation to take into account the interests of the creditors where the company is either insolvent or close to insolvency. Furs Ltd v. Tomkies P3.25 * Undisclosed benefits (to the shareholders) have to be returned to the company * Improperly use position in the company to his own advantage and to the detriment of Furs Ltd (P3.26) McNamara v....
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...Operations Management? 4 Organizing to Produce Goods and Services 4 Why Study OM? 4 What Operations Managers Do 7 How This Book Is Organized 7 The Heritage of Operations Management 8 Operations in the Service Sector 9 Differences between Goods and Services 10 Growth of Services 11 Service Pay 12 Exciting New Trends in Operations Management 12 The Productivity Challenge 14 Productivity Measurement 15 Productivity Variables 17 Productivity and the Service Sector 19 Ethics and Social Responsibility 20 Summary 20 • Key Terms 21 • Solved Problems 21 < Self-Test 22 • Internet and Student CD-ROM/DVD Exercises 22 • Discussion Questions 22 • Ethical Dilemma 23 • Problems 23 • Case Studies: National Air Express 24; Zychol Chemicals Corporation 25 • Video Case Study: Hard Rock Cafe: Operations Management in Services 25 • Additional Case Study 26 • Bibliography 26 • Internet Resources 26 Developing Missions and Strategies 34 Mission 34 Strategy 35 Achieving Competitive Advantage Through Operations 36 Competing on Differentiation 36 Competing on Cost 37 Competing on Response 37 Ten Strategic OM Decisions 39 Issues in Operations Strategy 42 Research 42 Preconditions 43 Dynamics 43 Strategy Development and Implementation 43 Critical Success Factors and Core Competencies 44 Build and Staff the Organization 46 Integrate OM with Other Activities 47 Global...
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...1. IMAX can be considered as a part of 3 different industries: photographic equipment and supplies, motion picture and video tape production and motion picture and video distribution. If we had to consider only the video production and distribution, one may say that IMAX is evolving in a very competitive environment. In fact, the rivalry between competitors is really harsh, mainly because of the presence of big integrated actors such as Columbia studios, Pixar, etc. Moreover, the business within this particular industry is risky since a film production needs a huge investment, so the return on investment of a movie is rarely important. IMAX interacts with its environment as it takes inputs and distributes its output, in form of large screen format movies with 3D images and distorted sound. Like every organization IMAX has also external and internal environment which affects its outputs. * External Environment: The factors and forces outside the IMAX Corporation that affects its performance are its external environment. External environment of the IMAX Corporation has two components: * Specific environment: Specific environment specific environment includes those forces and factors those directly relevant to the achievement of the IMAX goals. The main forces that that make the IMAX specific environment are: * Customers: Customers represent potential uncertainty to the IMAX because their taste changes. Therefore IMAX should need to create educational and...
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